Arsenic compounds are contained in many traditional Chinese medicines such as arsenolite, arsenic, realgar, orpiment. Arsenic Compounds have been used for treating skin diseases, such as syphilis in Traditional Chinese Medicine (TCM) from long time ago. Arsenic Compounds were used for cancer therapy since 19 century; e.g. Lissauer et. al used 1% potassium arsenite solution (Fowler solution) for treating leukemia. In 1971, Han, Taiyun, from The First Affiliated Hospital of Haerbing Medical College, had developed a medicine for treating leukemia by improving a kind of TCM containing arsenic. Zhang Tingdong, Zhang Peng., et. al used “Ailing yihao” to treat chronic myeloid leukemia in 1973, which has improved the blood parameters and the clinical symptoms of the patients. However, As2O3 injection is highly toxic, carcinogenic, teratogenic, and mutagenic. It may cause nausea, vomit and leukopenia etc side effects (Zhao Ningli et. al., Clinical Oncology, 2005, 10(1): 87-88); Myelosuppression is another side effect after a long-term administration (Li Fang., et. al., Foreign Medicine: Traditional Chinese Medicine Volume, 2001, 23(3): 134-138). In addition, As2O3 is slightly soluble in water, has poor water solubility and poor bioavailability. At present, no satisfied drug is found for clinically treating leukemia. Therefore, there is a need to further develop a new compound with effectively reduced toxicity and side effects of As2O3, increased solubility and bioavailability, and enhanced efficacy of anti-cancer.